Letter to shareholders

Pathfinder Properties PLC
28 March 2003


                                                                   28 March 2003


               Letter to Pathfinder Shareholders ('shareholders')


Pathfinder Properties PLC announces that it has today written to shareholders to
report the result of the Extraordinary General Meeting, which was announced on
Thursday 20 March 2003.

Copies of the letter to Shareholders will be available for one month from
today's date from the Company's head office at Capital House, Michael Road,
London SW6 2YH and from the Company's website at www.pathfinderplc.com.

Enquiries:

John Parry, Chairman
Malcolm Bacchus
Pathfinder Properties
Tel: [phone]

Robert Lo
Nabarro Wells & Co. Limited
Tel: [phone]

Peter Trevelyan-Clark
Teather & Greenwood
Tel: [phone]

Jeremy Carey
Tavistock Communications
Tel: [phone]


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